On Monday, January 8, 2018, the United States Department of Justice weighed in with a Statement of Interest under 28 U.S.C. § 517 in a pending state-court action (No. 1784CV02682) brought by the Commonwealth of Massachusetts against the Pennsylvania Higher Education Assistance Agency (PHEAA). The Commonwealth alleges that PHEAA violated state and federal consumer protection

Yesterday, as a result of a referral from the Consumer Financial Protection Bureau, the Department of Justice and the Department of Education announced a $60 million settlement against a major student loan servicer for failing to reduce the interest rates on loans to servicemembers to 6 percent, when allegedly required to do so by the

Last month, the CFPB filed its first lawsuit against companies involved in online payday lending.  The lawsuit against CashCall and several related companies that funded, purchased, serviced and collected online payday loans broke new ground by asserting UDAAP violations based on the defendants’ efforts to collect loans that were purportedly void in whole or in